I swear!... either I win in the morning and give it back in the afternoon or like today, I spend all afternoon recovering from losses. To be completely fair, I followed my system through the tough times today. My inclination was to quit and walk away after $300+ in losses. But instead I kept with it and eventually made a good trade. This has been a hard lesson to learn, following a system. I do feel that my number of trades was on the heavy side today, but I am proud of most of my entries, regardless of outcome.
FUTURES TRADES --------------------------------------------------------------------------- Trade Time Exchange Description Qty Trade Price Set Price Gain/Loss * ----------------- --------- ----------- ----- ----------- ----------- ----------- - 02-06-12 10:39:25 GLOBEX ES JUN02 -1 1016.5000 1020.2500 -187.50 02-06-12 11:01:42 GLOBEX ES JUN02 1 1011.7500 1020.2500 425.00 02-06-12 12:44:40 GLOBEX ES JUN02 -1 1004.5000 1020.2500 -787.50 02-06-12 12:49:21 GLOBEX ES JUN02 1 1005.2500 1020.2500 750.00 ===== =========== 0 200.00 =========== USD Total: 200.00 FUTURES GAIN/LOSS SUMMARY ---------------------------------------------------------------- Gain/Loss From Futures Trades 200.00 ============ USD Total: 200.00
Just another day at the office today, nothing special to report. I didn't know what to make of the rally today, so I just stayed away. Will probably move up to two contracts soon.
The journal maintained by the original writer of this thread is very useful. I have never traded eminis but would like to know more about it. Which one yields more return: future or stock? Any experienced future trader may share their experience. What are the margin requirements for trading eminis? thanks
FUTURES TRADES --------------------------------------------------------------------------- Trade Time Exchange Description Qty Trade Price Set Price Gain/Loss * ----------------- --------- ----------- ----- ----------- ----------- ----------- - 02-06-13 11:18:38 GLOBEX ES JUN02 -1 1014.0000 1010.7500 162.50 02-06-13 11:20:02 GLOBEX ES JUN02 1 1015.2500 1010.7500 -225.00 02-06-13 11:55:51 GLOBEX ES JUN02 -1 1020.2500 1010.7500 475.00 02-06-13 11:56:41 GLOBEX ES JUN02 1 1021.5000 1010.7500 -537.50 02-06-13 12:13:51 GLOBEX ES JUN02 -1 1020.7500 1010.7500 500.00 02-06-13 12:24:17 GLOBEX ES JUN02 1 1023.5000 1010.7500 -637.50 02-06-13 12:33:46 GLOBEX ES JUN02 -1 1021.5000 1010.7500 537.50 02-06-13 15:44:40 GLOBEX ES JUN02 1 1011.2500 1010.7500 -25.00 ===== =========== 0 250.00 =========== USD Total: 250.00 FUTURES GAIN/LOSS SUMMARY ---------------------------------------------------------------- Gain/Loss From Futures Trades 250.00
Spark, I don't think your first question can be answered, there are too many variables that are unknown. Generally, futures offer more leverage than stocks, but that is a double-edged sword. Visit http://www.cme.com/httpwrapper.cfm?wrap=/wrappedpages/clearing/pbrates/PBISHomePage.htm for information on margin requirements. Also take a look around the cme.com website for additional information.
Again persistence won out. After those first few trades I really wanted to give up, or at least change my strategy. My emotional feeling was to just go LONG and ride out the rest of the day. Alas, discipline prevailed.
Here is the rationale for today's trades: 1. Looking for a double-top here. Unlikely, but double-top setups allow for small stops. 2. Kind of ashamed of this trade... only indication I had here was a declining MACD. 3. Again, not the best signal. Should have sat tight. Broke the MA support, but no confirmation. 4. Bingo! MACD breakdown. The rest of the day gravy. ~~~ I hope this is usefull to someone, please fire away with questions & comments.
Jboydston, Finding your posts interesting. Just wondering who is your broker? Your commission costs are the smallest I've seen.